REPORT OF THE TRUSTEE ON THE FINANCIAL STATUS OF THE SCF
|
|
- Iris Stafford
- 5 years ago
- Views:
Transcription
1 Meeting of the SREP Sub-Committee Washington D.C. Wednesday, June 6, 2018 SREP/SC.19/Inf.3 May 18, 2018 REPORT OF THE TRUSTEE ON THE FINANCIAL STATUS OF THE
2 Strategic Climate Fund () Financial Report Prepared by the Trustee As of March 31, 2018
3 Table of Contents Introduction Summary Inception through March 31, Pledges Contributions Summary Asset Mix Investment Returns Adjustment for Changes in Market Conditions Cumulative Net Commitments FIP Summary Inception through March 31, FIP Pledges Contributions -Summary Cumulative Net Commitments FIP Funds Held in Trust with No Restrictions Funds Available to support Trustee Commitments PPCR Summary Inception through March 31, PPCR Pledges Contributions - Summary PPCR Cumulative Net Commitments PPCR Funds Held in Trust with No Restrictions Funds Available to support Trustee Commitments SREP Summary Inception through March 31, SREP Pledges Contributions Summary SREP Cumulative Net Commitments SREP Funds Held in Trust with No Restrictions Funds Available for Trustee Commitments Evaluation Learning Summary Inception through March 31, Evaluation Learning (EVLR) Pledges Contributions Overall realized unrealized gains or losses for the Promissory Notes held in Non-USD currencies Admin Account Summary Feb 1, 2016 through March 31,
4 Introduction The Climate Investment Funds (CIF) were established in 2008 its financial architecture is rooted in two trust funds. The Clean Technology Fund (CTF) aims to provide scaled-up financing to contribute to the demonstration, deployment, transfer of low-carbon technologies with a significant potential for long-term greenhouse gas emissions savings. The Strategic Climate Fund () aims to provide financing to pilot new development approaches or scale-up activities aimed at a specific climate change challenge or sectoral response. The currently finances three such programs: the Forest Investment Program (FIP), Pilot Program for Climate Resilience (PPCR), Scaling Up Renewable Energy in Low-Income Countries Program (SREP). The World Bank acts as the Trustee for the CIFs. This report is produced by the Trustee based on financial information as of March 31, 2018, in accordance with the Trustee s role as set forth in the Governance Framework for the which states: The Trustee will provide to the Committee,, to the extent applicable, any Sub-Committee, regular reports on the financial status of the, as agreed between the Trustee the Committee, or as the case may be the relevant Sub-Committee. Regular financial reporting is provided through the Trustee s website: This report has been prepared specifically for the Committee (TFC) to provide: (i) a snapshot of the financial status of the as of March 31, 2018; (ii) the status of pledges contributions, (iii) the status of the Programs: FIP, PPCR, SREP Evaluation Learning. 3
5 1. Summary Inception through March 31, 2018 TRUST FUND - RESOURCES AVAILABLE for COMMITMENTS Inception through March 31, 2018 (USD millions) As of March 31, 2018 % of Total Total % of Total Donor Pledges Contributions Contributions 2, % Pledges 0.3 0% Total Pledges Contributions 2, % Cumulative Funding Received Contributions Received Cash Contributions 2, % Unencashed promissory notes a/ % Total Contributions Received 2, % Other Resources Investment Income earned % Investment Income from MDBs 3.0 Total Other Resources 86.2 Total Cumulative Funding Received (A) 2, % Cumulative Funding Commitments Projects/Programs 2, % MDB Project Implementation Supervision services (MPIS) Costs % Cumulative Administrative Expenses net of cancellations b/ % Evaluation learning commitments 7.5 0% Total Cumulative Funding Commitments 2, % Project/Program Cancellations c/ (97.9) -4% Net Cumulative Funding Commitments (B) 2, % Fund Balance (A - B) Currency Risk Reserves d/ (77.3) Funding Available for Trustee Commitments ( C) Future Programming Reserves: Admin Expenses-Reserve (includes Country Programing budget/learning Knowledge exchange reserve) for FY (net of estimated investment income reflows) e/ (53.8) Unrestricted Fund Balance ( C) after reserves
6 TRUST FUND - RESOURCES AVAILABLE for COMMITMENTS Inception through March 31, 2018 (USD millions) As of March 31, 2018 % of Total Anticipated Commitments (FY18-FY23) Program/Project Funding MPIS Costs f/ Total Anticipated Commitments (D) Available Resources (C-D) (78.7) Potential Future Funding (FY18-FY23) Pledges g/ 0.3 0% Contributions not yet paid h/ % Release of Currency Risk Reserves d/ % Total Potential Future Resources (E) % Potential Available Resources (C - D + E) 15.8 Reflow from MDBs i/ 1.0 a/ This amount represents USD equivalent of GBP million from the UK. b/ approved by the TFC to end FY18 (net of cancellations) including USD million for Country Programing budget. c/ This refers to cancellation of program project commitments approved by the TFC. d/ Amounts withheld to mitigate over-commitment risk resulting from the effects of currency exchange rate fluctuations on the value of outsting non-usd denominated promissory notes. e/ The amount of this reserve is estimated by the CIFAU Trustee using the 10-year forecast of the Admin Budget less the 10-year estimate of Investment Income reflows. Pro-rata estimates across three programs are based on the 41%, 37% & 22% fixed pro rata share of the PPCR, SREP & FIP cash balance as at December 31, 2017 approved by the TFC on March 8, f/ Anticipated commitments for SREP program includes both Sealed Reserve pipeline. g/ The balance of the pledge amount from the U.S. h/ This amount represents USD equivalent of GBP 12 million. i/ The usage of reflow from MDBs are approved by the TFC on March 8, 2018 to cover the shortfall in administrative expenses net of the investment income. 5
7 1.1. Pledges Contributions Summary Contribution Type Pledges outsting Contribution Receivable in Contribution Currency in USD eq. a/ Pledges outsting PNs Outsting Cash Receipts f/ Total Pledges Contributions Contribution Receivable PNs Outsting Cash Receipts f/ Total Pledges Contributions Contributor Currency Australia Grant AUD Canada Grant CAD Denmark Grant DKK Germany b/ Grant EUR Japan c/ Grant USD c/ Korea Grant KRW - - 6,565 6, Netherls Grant USD Norway Grant NOK - - 1,733 1, Spain Grant EUR Spain Capital EUR Sweden Grant SEK Switzerl Grant USD United Kingdom d/ Capital GBP United Kingdom Grant GBP United States e/ Grant USD ,148 2,681 a/ Represents realized amounts plus unrealized amounts valued on the basis of exchange rates as of March 31, b/ Of the EUR contribution to, EUR 9.45 million was subsequently transferred from the to other trust funds, at the instruction of the contributor. c/ The USD 200 million pledge was committed in JPY in the amount of JPY 19 billion. d/ The total contribution finalized by the United Kingdom through the is GBP 2.1 billion, which includes allocation of GBP 1130 million to CTF, GBP 3.5 million to Readiness Fund of the Forest Carbon Partnership Facility (FCPF), GBP 11.5 million to Carbon Fund of the FCPF GBP 50 million to the Congo Basin Fund. e/ The total pledge made by the United States to the CTF is USD 2 billion. f/ Includes cash receipts encashed promissory notes. Note: Totals may not add due to rounding 6
8 1.2. Asset Mix Investment Returns Adjustment for Changes in Market Conditions The undisbursed cash balance of the is maintained in a commingled investment portfolio ( Pool ) for all trust funds managed by IBRD. The Pool is managed actively conservatively with capital preservation as the over-arching objective. ASSET MIX assets are invested across three of the World Bank s investment model portfolios, ( Model Portfolio 0 for short term working capital needs, Model Portfolio 1 with an investment horizon of one year, Model Portfolio 2 with an investment horizon of three years). The latter two model portfolios aim to optimize investment returns subject to capital preservation with a high degree of confidence (based on statistical models) over the respective investment horizon. Although actual future returns will depend on market conditions, the Investment Pool portfolio is actively monitored adjusted to preserve development partner funds over the investment horizons. Over shorter periods however, market volatility may result in negative actual or mark-to-market 1 returns. On July 1, 2015, the World Bank formally adopted the Conditional Value-at-Risk (CVaR) measure as the risk constraint in the management of trust funds. Funds are managed such that the expected maximum loss, as measured by the CVaR, at the portfolio s investment horizon, is not to exceed 1% with 99% confidence. The portfolio allocation by asset class has the largest allocations to government securities, money market mortgage backed securities (MBS). Govt Securities, 45% as of December 31, 2017 Govt Securities, 41% as of March 31, 2018 Mortgage Backed Sec, 17% Asset Backed Sec, 5% Agency, 7% Sovereign/ Govt Guaranteed, 3% MM/ Financial Inst., 19% AAA rated Euro Agency/Govt bonds, 5% Swap/FX Swap, -1% Mortgage Backed Sec, 28% Asset Backed Sec, 4% Agency, 6% Sovereign/ Govt Guaranteed, 9% MM/ Financial Inst., 14% Swap/FX Swap, -2% Note: The negative position in swaps is primarily due to changes in foreign currency exchange (FX) rates in cross currency basis swaps. Such swap instruments are used to implement currency hedges on bond positions within the portfolio. These hedges remain in place. 1 Mark-to-market gains or losses represent unrealized gains or losses resulting from changes in the value of securities in the portfolio which have not yet been sold. 7
9 INVESTMENT RETURNS investment returns were low in early 2018 as global markets experienced a high level of volatility on the back of political policy uncertainty in the US geopolitical themes globally. The achieved a calendar yearto-date 2018 return of 0.08% 2.5% 2.0% 1.5% 1.0% 0.5% 0.87% 0.81% 1.03% 1.38% 0.64% 1.13% 1.94% 0.0% 0.12% 0.08% CY2010 CY2011 CY2012 CY2013 CY2014 CY2015 CY2016 CY2017 CY2018* *YTD non-annualized 1.3. Cumulative Net Commitments Total Net Commitments by the Trustee by Activity As of March 31, 2018, based on the funding approvals by the Committee, or the Sub- Committee as appropriate, the Trustee has made net commitments totaling USD 2.2 billion. Of this amount, USD million represents net commitments for administrative budget including the Country Programming budget of USD million under the relevant Programs, USD 2.07 billion for projects, preparation grants MDB costs for project implementation supervision services (MPIS costs), USD 7.5 million for the Evaluation Learning program. Net Project Program Commitments by Program Net commitments made by the Trustee totaled USD 2.07 billion for projects, investment plan preparation MPIS costs, of which USD million was committed under the FIP, USD 1.04 billion under the PPCR, USD million under the SREP. 8
10 2. FIP Summary Inception through March 31, 2018 FIP TRUST FUND - RESOURCES AVAILABLE for COMMITMENTS Inception through March 31, 2018 (USD millions) Total Capital Grant Donor Pledges Contributions Contributions Pledges a/ Total Pledges Contributions Cumulative Funding Received Contributions Received Cash Contributions Unencashed promissory notes b/ Total Contributions Received Other Resources Investment Income earned -up to Feb 1, 2016 c/ Total Other Resources Total Cumulative Funding Received (A) Cumulative Funding Commitments Projects/Programs MDB Project Implementation Supervision services (MPIS) Costs Administrative Expenses-Cumulative to 1st Feb 2016 c/ Total Cumulative Funding Commitments Project/Program,MPIS Admin Budget Cancellations d/ (16.3) (15.0) (1.3) Net Cumulative Funding Commitments (B) Fund Balance (A - B) Currency Risk Reserves e/ (37.9) (27.5) (10.3) Unrestricted Fund Balance ( C) Future Programming Reserves: Admin Expenses-Reserve (includes Country Programing budget/learning Knowledge exchange reserve) for FY (net of estimated investment income reflows) f/ (11.6) (11.6) Unrestricted Fund Balance ( C) after reserves
11 FIP TRUST FUND - RESOURCES AVAILABLE for COMMITMENTS Inception through March 31, 2018 (USD millions) Total Capital Grant Anticipated Commitments (FY18-FY21) Program/Project Funding MPIS Costs Total Anticipated Commitments (D) Available Resources (C - D) (39.9) (10.2) (29.7) Potential Future Resources (FY18-FY21) Pledges a/ Release of Currency Risk Reserves e/ Total Potential Future Resources (E) Potential Available Resources (C - D + E) (1.6) 17.4 (19.0) Reflows from MBDs g/ a/ The balance of the pledge amount from the U.S b/ This amount represents USD equivalent of GBP million. c/ From Feb 1, 2016, Investment income across all programs has been posted to a notional Admin account, from which approved Administrative Budget expenses for the Trustee, Secretariat MDBs are committed. The Country Programming budget expenditures are recorded under individual programs in administrative expenses. d/ This refers to cancellation of program project commitments approved by the TFC. e/ Amounts withheld to mitigate over-commitment risk resulting from the effects of currency exchange rate fluctuations on the value of outsting non- USD denominated promissory notes. f/ The amount of this reserve is estimated by the CIFAU Trustee using the 10-year forecast of the Admin Budget less the 10-year estimate of Investment Income reflows. Pro-rata estimates across three programs are based on the 22% fixed pro rata share of the FIP's cash balance as at December 31, 2017 approved by the TFC on March 8, The decision reads as "allocate USD 11.6 million from the available grant resources in the FIP Program Sub-Account to finance estimated Administrative Costs from FY19 to FY28, such that the projected, indicative amount of approximately USD 81.8 million in FIP grant resources remains available for allocation to FIP projects". g/ The usage of reflow from MDBs are approved by the TFC on March 8, 2018 to cover the shortfall in administrative expenses net of the investment income. 10
12 2.1. FIP Pledges Contributions -Summary in Contribution Currency Total Pledges Contributions Total Pledges Contributions Contributor Contribution Type Currency Pledges outsting PNs Outsting Cash Receipts d/ Pledges outsting PNs Outsting Cash Receipts d/ Australia Grant AUD Denmark Grant DKK Japan b/ Grant USD Norway Grant NOK Spain Capital EUR Sweden Grant SEK United Kingdom Capital GBP United Kingdom Grant GBP United States c/ Grant USD a/ Represents realized amounts plus unrealized amounts valued on the basis of exchange rates as of March 31, 2018 b/ The USD 60 million pledge was committed in JPY in the amount of JPY 5.6 billion. c/ The total pledge made by the United States to the CTF is USD 2 billion. d/ Includes cash receipts encashed promissory notes. in USD eq. a/ Note: Totals may not add due to rounding 11
13 2.2. Cumulative Net Commitments FIP Net Commitments by the Trustee by Activity Between October 1, 2017 March 31, 2018, a total amount of USD 0.5 million was committed by the Trustee, bringing the net cumulative commitments under the FIP as of March 31, 2018, to USD million MPIS Projects Project Preparation Grant As of March 31, 2018 As of December 31, 2017 Note: Totals may not add due to rounding 2 This amount excludes net commitments for administrative budget, including Country Programming budget, approved by the Committee. Project preparation grants includes Investment plan preparation grants. 12
14 2.3. FIP Funds Held in Trust with No Restrictions Funds Available to support Trustee Commitments STRATEGIC CLIMATE FUND Table 2: Schedule of Funds Available for FIP as of March 31, 2018 FIP 1. Funds held in Trust 470 a. Cash 218 b. Unencashed Promissory Notes a/ Restricted Funds b/ Funds held in Trust with no restrictions ( 3 = 1-2 ) Trustee Commitments pending cash transfer 227 a. Projects 224 b. MDB Fees 3 c. Administrative Budget 0 5 Funds available to support Trustee Commitments ( 6 = 3-4 ) 205 a/ Valued on the basis of exchange rates of March 31, 2018 b/ Represents amounts withheld to cover the impact of foreign exchange fluctuations on commitments made by the Trustee c/ Doesn't include the reserve amount of USD 11.6 million estimated by the CIFAU Trustee using the 10-year forecast of the admin country programming budget less the 10-year estimate of Investment Income reflows. 13
15 3. PPCR Summary Inception through March 31, 2018 PPCR TRUST FUND - RESOURCES AVAILABLE for COMMITMENTS Inception through March 31, 2018 (USD millions) Total Capital Grant Total Total Total Donor Pledges Contributions Contributions 1, Pledges Allocation from Capital to Grants a/ - (24.5) 24.5 Total Pledges Contributions 1, Cumulative Funding Received Contributions Received Cash Contributions 1, Unencashed promissory notes b/ UK Contributions-Allocation from Capital to Grants a/ (24.5) 24.5 Total Contributions Received 1, Other Resources Investment Income earned -up to Feb 1, 2016 c/ Total Other Resources Total Cumulative Funding Received (A) 1, Cumulative Funding Commitments Projects/Programs 1, MDB Project Implementation Supervision services (MPIS) Costs Administrative Expenses-Cumulative to 1st Feb 2016 c/ Total Cumulative Funding Commitments 1, Project/Program Administrative Budget Cancellations d/ (42.08) (11.6) (30.48) Net Cumulative Funding Commitments (B) 1, Fund Balance (A - B) Currency Risk Reserves e/ (2.1) (2.1) Unrestricted Fund Balance ( C) Future Programming Reserves: Admin Expenses-Reserve (includes Country Programing budget/learning Knowledge exchange reserve) for FY (net of estimated investment income reflows) f/ (10.6) (10.6) Unrestricted Fund Balance ( C) after reserves
16 PPCR TRUST FUND - RESOURCES AVAILABLE for COMMITMENTS Inception through March 31, 2018 (USD millions) Total Capital Grant Total Total Total Anticipated Commitments (FY18-FY21) Program/Project Funding MPIS Costs Projected Country Programming Budget Projected Administrative Budget Total Anticipated Commitments (D) Available Resources (C-D) 12.4 (3.1) 15.4 Potential Future Funding (FY18-FY21) Pledges Funding From Provisional Account Contributions not yet paid (Receivable from UK) g/ Release of Currency Risk Reserves e/ Total Potential Future Resources (E) Potential Available Resources (C - D + E) 31.3 (1.0) 32.3 Reflows from MDBs h/ a/ Cash contributions amounting to GBP 15 million (USDeq million based on exchange rate on May 10, 2011) received as capital contributions are available to finance grants (including administrative costs) according to the terms of the contribution agreements/arrangements. b/ This amount represents USD equivalent of GBP 9.8 million. c/ From Feb 1, 2016, Investment income across all programs has been posted to a notional Admin account, from which approved Administrative Budget expenses for the Trustee, Secretariat MDBs are committed. The Country Programming budget expenditures are recorded under individual programs in administrative expenses. d/ This refers to cancellation of program project commitments approved by the TFC. Also includes any commitment cancellations to adjust changes to the previous approvals. e/ Amounts withheld to mitigate over-commitment risk resulting from the effects of currency exchange rate fluctuations on the value of outsting non- USD denominated promissory notes. f/ The amount of this reserve is estimated by the CIFAU Trustee using the 10-year forecast of the Admin Budget less the 10-year estimate of Investment Income reflows. Pro-rata estimates across three programs are based on the 41% fixed pro rata share of the PPCR's cash balance as at December 31, 2017 approved by the TFC on March 8, The decision reads as "allocate USD 10.6 million from the available grant resources in the PPCR Program Sub- Account to finance estimated Administrative Costs from FY19 to FY28, such that the projected, indicative amount of approximately USD 16.3 million in PPCR grant resources remains available for allocation to PPCR project's. g/ This amount represents USD equivalent of GBP 12 million. h/ The usage of reflow from MDBs are approved by the TFC on March 8, 2018 to cover the shortfall in administrative expenses net of the investment income. 15
17 3.1. PPCR Pledges Contributions - Summary Pledges outsting Contribution Receivable in Contribution Currency Total Pledges Contributions Pledges outsting Contribution Receivable Total Pledges Contributions Contributor Contribution Type Currency PNs Outsting Cash Receipts e/ PNs Outsting Cash Receipts e/ Australia Grant AUD Canada Grant CAD Denmark Grant DKK Germany Grant EUR Japan b/ Grant USD Norway Grant NOK Spain Capital EUR United Kingdom Capital GBP United Kingdom Grant GBP 12 d/ d/ United States c/ Grant USD ,126 1,157 a/ Represents realized amounts plus unrealized amounts valued on the basis of exchange rates as of March 31, 2018 b/ The USD 100 million pledge was committed in JPY in the amount of JPY 9.3 billion. c/ The total pledge made by the United States to the CTF is USD 2 billion d/ The contribution receivable amount. e/ Includes cash receipts encashed promissory notes. in USD eq. a/ Note: Totals may not add up due to rounding 16
18 3.2. PPCR Cumulative Net Commitments PPCR Net Commitments by the Trustee by Activity The cumulative net commitments under the PPCR as of March 31, 2018 was USD billion As of March 31, 2018 As of December 31, 2017 MPIS Projects Project Preparation Grant Note: Totals may not add due to rounding 3 This amount excludes net commitments for administrative budget, including Country Programming budget, approved by the Committee. Project preparation grants includes Investment plan preparation grants. 17
19 3.3. PPCR Funds Held in Trust with No Restrictions Funds Available to support Trustee Commitments STRATEGIC CLIMATE FUND Table 2: Schedule of Funds Available for PPCR as of March 31, Funds held in Trust 414 a. Cash 401 b. Unencashed Promissory Notes a/ Restricted Funds b/ 2 3. Funds held in Trust with no restrictions ( 3 = 1-2 ) Trustee Commitments pending cash transfer 364 a. Projects 363 b. MDB Fees 1 c. Administrative Budget 0 PPCR 5 Funds available to support Trustee Commitments ( 6 = 3-4 ) c/ 48 a/ Valued on the basis of exchange rates of March 31, 2018 b/ Represents amounts withheld to cover the impact of foreign exchange fluctuations on commitments made by the Trustee c/ Doesn't include the reserve amount of USD 10.6 million estimated by the CIFAU Trustee using the 10-year forecast of the admin country programming budget less the 10-year estimate of Investment Income reflows. 18
20 4. SREP Summary Inception through March 31, 2018 SREP TRUST FUND - RESOURCES AVAILABLE for COMMITMENTS Inception through March 31, 2018 (USD millions) Total Capital Grant Total Donor Pledges Contributions Contributions Pledges - - Allocation of Capital to Grants a/ (27.9) 27.9 Total Pledges Contributions Cumulative Funding Received Contributions Received Cash Contributions Unencashed Promissory Notes b/ Allocation of Capital to Grants from Unencashed Promissory Notes a/ (27.9) 27.9 Total Contributions Received Other Resources Investment Income earned -up to Feb 1, 2016 c/ Other Income - Total Other Resources Total Cumulative Funding Received (A) Cumulative Funding Commitments Projects/Programs MDB Project Implementation Supervision services (MPIS) Costs Administrative Expenses-Cumulative to 1st Feb 2016 c/ Total Cumulative Funding Commitments Project/Program, MPIS Admin Budget Cancellations d/ (43.2) (30.5) (12.7) Net Cumulative Funding Commitments (B) Fund Balance (A - B) Currency Risk Reserves e/ (37.4) (33.2) (4.2) Unrestricted Fund Balance Future Programming Reserves: Admin Expenses-Reserve (includes Country Programing budget/learning Knowledge exchange reserve) for FY (net of estimated investment income reflows) f/ (31.6) (31.6) Unrestricted Fund Balance ( C) after reserves
21 SREP TRUST FUND - RESOURCES AVAILABLE for COMMITMENTS Inception through March 31, 2018 (USD millions) Total Capital Grant Anticipated Commitments (FY18-FY21) Program/Project Funding MPIS Costs g/ Total Anticipated Commitments (D) Available Resources (C - D) (66.1) (14.8) (51.3) Potential Future Resources (FY18-FY21) Release of Currency Risk Reserves e/ Total Potential Future Resources (D) Potential Available Resources (C - D + E) (28.7) 18.4 (47.1) a/ Promissory Notes amounting to GBP million received as capital contributions are available to finance grants (including administrative costs) according to the terms of the contribution agreements/arrangements. The Promissory Notes are valued as of March 31, 2018 exchange rate. b/ This amount includes USD equivalent of GBP million from the UK. c/ From Feb 1, 2016, Investment income across all programs has been posted to a notional Admin account, from which approved Administrative Budget expenses for the Trustee, Secretariat MDBs are committed. The Country Programming budget expenditures are recorded under individual programs in administrative expenses. d/ This refers to cancellation of program project commitments approved by the committee. e/ Amounts withheld to mitigate over-commitment risk resulting from the effects of currency exchange rate fluctuations on the value of outsting non-usd denominated promissory notes. f/ The amount of this reserve is estimated by the CIFAU Trustee using the 10-year forecast of the Admin Budget less the 10-year estimate of Investment Income reflows. Pro-rata estimates across three programs are based on the 22% fixed pro rata share of the SREP's cash balance as at December 31, 2017 approved by the TFC on March 8, The decision reads as "allocate USD 31.6 million from the available grant resources in the SREP Program Sub-Account to finance estimated Administrative Costs from FY19 to FY28, such that the projected, indicative amount of approximately USD 59.6 million in SREP grant resources remains available for allocation to SREP projects". g/ Includes both sealed Reserve pipeline. 20
22 4.1. SREP Pledges Contributions Summary Pledges outsting Contribution Receivable in Contribution Currency Total Pledges Contributions Pledges outsting Contributions Receivable Total Pledges Contributions Contributor Contribution Type Currency PNs Outsting Cash Receipts c/ PNs Outsting Cash Receipts d/ Australia Grant AUD Denmark Grant DKK Japan b/ Grant USD Korea Grant KRW - - 6,565 6, Netherls Grant USD Norway Grant NOK Spain Grant EUR Sweden Grant SEK Switzerl Grant USD United Kingdom Capital GBP United Kingdom Grant GBP United States d/ Grant USD a/ Represents realized amounts plus unrealized amounts valued on the basis of exchange rates as of March 31, 2018 b/ The USD 40 million pledge was committed in JPY in the amount of JPY 3.7 billion. c/ Includes cash receipts encashed promissory notes. d/the total pledge made by the United States to the CTF is USD 2 billion. in USD eq. a/ Note: Totals may not add up due to rounding 21
23 4.2. SREP Cumulative Net Commitments SREP Net Commitments by the Trustee by Activity The cumulative commitments under the SREP as of March 31, 2018 are USD 529 million MPIS As of March 31, 2018 As of December 31, 2017 Projects Project Preparation Grant Note: Totals may not add due to rounding 4 This amount excludes net commitments for administrative budget, including Country Programming budget, approved by the Committee. Project preparation grants includes Investment plan preparation grants. 22
24 4.3. SREP Funds Held in Trust with No Restrictions Funds Available for Trustee Commitments STRATEGIC CLIMATE FUND Table 2: Schedule of Funds Available for SREP as of March 31, Funds held in Trust 595 a. Cash 346 b. Unencashed Promissory Notes a/ Restricted Funds b/ Funds held in Trust with no restrictions ( 3 = 1-2 ) Trustee Commitments pending cash transfer 366 a. Projects 362 b. MDB Fees 4 c. Administrative Budget c/ 0 SREP 5 Funds available to support Trustee Commitments ( 6 = 3-4 ) 191 a/ Valued on the basis of exchange rates of March 31, 2018 b/ Represents amounts withheld to cover the impact of foreign exchange fluctuations on commitments made by the Trustee c/ Doesn't include the reserve amount of USD 31.6 million estimated by the CIFAU Trustee using the 10-year forecast of the admin country programming budget less the 10-year estimate of Investment Income reflows. 23
25 5. Evaluation Learning Summary Inception through March 31, 2018 EVALUATION AND LEARNING(EVLR) RESOURCES AVAILABLE for COMMITMENTS Inception through March 31, 2018 (USD millions) As of March 31,2018 Total Donor Pledges Contributions Contributions 7.7 Pledges - Total Pledges Contributions 7.7 Cumulative Funding Received Contributions Received Cash Contributions 7.7 Unencashed promissory notes - Total Contributions Received 7.7 Other Resources Investment Income earned - Other income ` - Total Cumulative Funding Received (A) 7.7 Cumulative Funding Commitments Projects/Programs - MDB Project Implementation Supervision services (MPIS) Costs - Cumulative Administrative Expenses 7.5 Total Cumulative Funding Commitments 7.5 Project/Program, MPIS Admin Budget Cancellations - Net Cumulative Funding Commitments (B) 7.5 Fund Balance (A - B) 0.2 Anticipated Commitments (FY18-F19) Projected Evaluation Learning Commitments a/ (0.5) Total Anticipated Commitments (D) (0.5) Available Resources (C-D) (0.3) Potential Available Resources (C - D + E) (0.3) a/ of the amount USD 8 million approved for FY17 FY18, USD 7.48 million has been committed in FY17 FY18 by the trustee the balance amount of USDeq million is yet to be committed. The future commitments will be based on the decision made by the CIFAU through call for proposals up to the available funding of USD million. 24
26 5.1 Evaluation Learning (EVLR) Pledges Contributions Contributor Contribution Type Currency Pledges outsting in Contribution Currency in USD eq. a/ PNs Outsting Cash Receipts b/ Total Pledges Contributions Pledges outsting PNs Outsting Cash Receipts b/ Total Pledges Contributions United Kingdom Grant GBP c/ a/ Represents realized amounts plus unrealized amounts valued on the basis of exchange rates as of March 31, 2018 b/ Includes cash receipts encashed promissory notes. c/ The UK Contributions set aside for Evaluation Learning. Note: Totals may not add due to rounding 6. Overall realized unrealized gains or losses for the Promissory Notes held in Non-USD currencies. Donor/Program Amount in Currency Amount in USD eq. Currency Exchange Rate Changes in USD eq. Currency Promissory Note (PN) received PN Encashment PN Unencashed Promissory Note date PN Encashment (FXR) PN March 31, 2018 Realized - PN Encashments Unrealized- PN Unencashed Promissory Note vs (Encashments+ unencashed) Japan 18,531 18, PPCR JPY 9,266 9, FIP JPY 5,559 5, SREP JPY 3,706 3, United Kingdom , PPCR GBP FIP GBP SREP GBP EVLR GBP Gr Total 1,
27 7. Admin Account Summary Feb 1, 2016 through March 31, 2018 in USD millions ADMIN Account - RESOURCES AVAILABLE for COMMITMENTS Inception through March 31, 2018 (USD millions) Other Resources Investment Income earned a/ 39.9 Other income 3.0 Total Other Resources 42.9 Total Cumulative Funding Received (A) 42.9 Cumulative Funding Commitments As of March 31,2018 Cumulative Administrative Expenses from Feb 1, until end-fy Fund Balance (A - B) 14.9 Unrestricted Fund Balance ( C) 14.9 a/ From Feb 1, 2016, Investment income across all programs has been posted to a notional Admin account, from which approved Administrative Budget expenses for the Trustee, Secretariat MDBs are committed. 26
REPORT OF THE TRUSTEE ON THE FINANCIAL STATUS OF THE SCF
Joint Meeting of the CTF Committees Washington, DC June 7, 2017 Joint CTF-/TFC.17/Inf.3 May 23, 2017 REPORT OF THE TRUSTEE ON THE FINANCIAL STATUS OF THE Strategic Climate Fund () Financial Report Prepared
More informationREPORT OF THE TRUSTEE ON THE FINANCIAL STATUS OF THE CTF
Meeting of the Committee Washington D.C Wednesday, June 6, 2018 /TFC.21/Inf.3 May 18, 2018 REPORT OF THE TRUSTEE ON THE FINANCIAL STATUS OF THE Clean Technology Fund () Financial Report Prepared by the
More informationREPORT OF THE TRUSTEE ON THE FINANCIAL STATUS OF THE CTF
Meeting of the Committee Washington D.C. Friday, December 15,2017 /TFC.20/Inf.3 November 21, 2017 REPORT OF THE TRUSTEE ON THE FINANCIAL STATUS OF THE Clean Technology Fund () Financial Report Prepared
More informationClean Technology Fund (CTF)
Clean Technology Fund () Financial Report Prepared by the Trustee As of September 30, 2014 Table of Contents Introduction... 3 Financial Summary as of September 30, 2014... 4 1. Summary Inception through
More informationREPORT OF THE TRUSTEE ON THE FINANCIAL STATUS OF THE CTF SUPPLEMENTAL ANNEX
Joint Meeting of the and SCF Committees Ouarzazate, Morocco Thursday, January 31, 2019 Joint -SCF/TFC.20/Inf.6 January 24, 2019 REPORT OF THE TRUSTEE ON THE FINANCIAL STATUS OF THE SUPPLEMENTAL ANNEX Clean
More informationMeeting of the CTF Trust Fund Committee Istanbul, Turkey November 3, 2012 TRUSTEE REPORT ON THE FINANCIAL STATUS OF THE CTF
Meeting of the Committee Istanbul, Turkey November 3, 2012 /TFC.10/Inf.2 October 30, 2012 TRUSTEE REPORT ON THE FINANCIAL STATUS OF THE Clean Technology Fund () Financial Report Prepared by the Trustee
More informationSCF/TFC.5/4 March 5, Meeting of the SCF Trust Fund Committee Manila, Philippines March 16, 2010 TRUSTEE REPORT ON FINANCIAL STATUS OF THE SCF
SCF/TFC.5/4 March 5, 2010 Meeting of the SCF Trust Fund Committee Manila, Philippines March 16, 2010 TRUSTEE REPORT ON FINANCIAL STATUS OF THE SCF Proposed Trust Fund Committee Decision The Trust Fund
More informationTRUSTEE REPORT FINANCIAL STATUS OF THE STRATEGIC CLIMATE FUND
SCF/TFC.4/4 October 13, 2009 Meeting of the SCF Trust Fund Committee Washington, D.C. October 28, 2009 TRUSTEE REPORT FINANCIAL STATUS OF THE STRATEGIC CLIMATE FUND Proposed Trust Fund Committee Decision
More informationSpecial Climate Change Fund (SCCF)
Special Climate Change Fund () Financial Report Prepared by the Trustee As of March 31, 2013 Table of Contents Table of Contents Introduction... 3 Financial Summary as of March 31, 2013... 4 1. Summary
More informationGreen Climate Fund Trust Fund Financial Report Status as at 30 September
Trust Fund Financial Report Status as at 30 September 2013 1 GCF/BM-2013/Inf.01 27 November 2013 1 Reproduced as received by the Interim Trustee. Green Climate Fund Financial Report Prepared by the Interim
More informationSTATUS REPORT FOR THE LEAST DEVELOPED COUNTRIES FUND
23rd /SCCF Council Meeting November 30, 2017 Washington DC GEF/.SCCF.23/Inf.02 November 9, 2017 STATUS REPORT FOR THE LEAST DEVELOPED COUNTRIES FUND (Financial Report prepared by the Trustee) Least Developed
More informationFinancial Report Prepared by the Interim Trustee (The World Bank)
Green Climate Fund Financial Report Prepared by the Interim Trustee (The World Bank) As of December 31, 2013 Green Climate Fund Summary as of December 31, 2013 This report covers the financial status of
More informationSTATUS REPORT FOR THE LEAST DEVELOPED COUNTRIES FUND
21 st /SCCF Council Meeting October 27, 2016 Washington DC GEF/.SCCF.21/Inf.02 October 14, 2016 STATUS REPORT FOR THE LEAST DEVELOPED COUNTRIES FUND (Financial Report prepared by the Trustee) Least Developed
More informationSTATUS REPORT FOR THE SPECIAL CLIMATE CHANGE FUND
21 st LDCF/ Council Meeting October 27, 2016 Washington DC GEF/LDCF..21/Inf.03 October 14, 2016 STATUS REPORT FOR THE SPECIAL CLIMATE CHANGE FUND (Financial Report prepared by the Trustee) Special Climate
More informationSTATUS REPORT FOR THE SPECIAL CLIMATE CHANGE FUND
25th LDCF/ Council Meeting December 20, 2018 Washington DC GEF/LDCF..25/Inf.03 November 29, 2018 STATUS REPORT FOR THE SPECIAL CLIMATE CHANGE FUND (Financial Report prepared by the Trustee) Special Climate
More informationSTATUS REPORT FOR THE LEAST DEVELOPED COUNTRIES FUND
25th /SCCF Council Meeting December 20, 2018 Washington DC GEF/.SCCF.25/Inf.02 November 29, 2018 STATUS REPORT FOR THE LEAST DEVELOPED COUNTRIES FUND (Financial Report prepared by the Trustee) Least Developed
More informationGreen Climate Fund Trust Fund Financial Report Status as at 31 March
Green Climate Fund Trust Fund Financial Report Status as at 31 March 2014 1 GCF/B.07/Inf.04 01 May 2014 Meeting of the Board 18-21 May 2014 Songdo, Republic of Korea Agenda item 13 1 Reproduced as received
More informationSummary of Financial Information As of December 31, (Prepared by the Trustee)
GEF/R.7/Inf.14 January 8, 2018 Third Meeting for the Seventh Replenishment of the GEF January 23-25, 2018 Brasilia, Brazil GEF TRUST FUND FINANCIAL REPORT Summary of Financial Information As of December
More informationSummary of Financial Information As of February 28, (Prepared by the Trustee)
GEF/R.7/Inf.03 March 13, 2017 First Meeting for the Seventh Replenishment of the GEF March 28-30, 2017 Paris, France GEF TRUST FUND FINANCIAL REPORT Summary of Financial Information As of February 28,
More informationSummary of Financial Information As of September 30, (Prepared by the Trustee)
GEF/C.53/Inf.08 November 7, 2017 53rd GEF Council Meeting November 28-30, 2017 Washington, DC GEF TRUST FUND FINANCIAL REPORT Summary of Financial Information As of September 30, 2017 (Prepared by the
More informationSummary of Financial Information As of August 31, (Prepared by the Trustee)
GEF/R.7/Inf.08 September 15, 2017 Second Meeting for the Seventh Replenishment of the GEF October 3-5, 2017 Addis Ababa, Ethiopia GEF TRUST FUND FINANCIAL REPORT Summary of Financial Information As of
More informationGlobal Environment Facility Trust Fund
Financial Report Prepared by the Trustee Summary of Financial Information As of September 30, 2016 1 Table of Contents Table of Contents Introduction... 3 GEF Financial Summary as of September 30, 2016...
More informationGlobal Environment Facility
Global Environment Facility LDCF/SCCF Council Meeting November 16, 2007 GEF/LDCF.SCCF.3/Inf.2 November 9, 2007 STATUS REPORT ON THE CLIMATE CHANGE FUNDS AS OF SEPTEMBER 30, 2007 (Prepared by the Trustee)
More informationGlobal Agriculture and Food Security Program Trust Fund Public Sector Window
Global Agriculture and Food Security Program Public Sector Window Financial Report Prepared by the Trustee As of December 31, 2016 Table of Contents Table of Contents Introduction... 3 Financial Summary
More informationGreen Climate Fund Trust Fund Financial Report as of 31 December 2015
Meeting of the Board 8 10 March 2016 Songdo, Incheon, Republic of Korea Provisional agenda item 25 GCF/B.12/Inf.09 4 March 2016 Green Climate Fund Financial Report as of 31 December 2015 Summary The financial
More informationGlobal Environment Facility
Global Environment Facility LDCF/SCCF Council Meeting November 13, 2008 GEF/LDCF.SCCF.5/Inf.2 November 7, 2008 STATUS REPORT ON THE CLIMATE CHANGE FUNDS OCTOBER 2008 (Report from the Trustee) Status of
More informationSTATUS REPORT FOR THE SPECIAL CLIMATE CHANGE FUND
GLOBAL ENVIRONMENT FACILITY INVESTING IN OUR PLANET 24th LDCF/ Council Meeting June 26, 2018 Da Nang, Viet Nam v.orld BANK GEF/LDCF..24/lnf.03 May 29, 2018 STATUS REPORT FOR THE SPECIAL CLIMATE CHANGE
More informationILLUSTRATIVE SCENARIOS FOR GEF-5 CONTRIBUTIONS
Fifth Meeting for the Fifth Replenishment of the GEF Trust Fund March 9-10, 2010 Rome, Italy GEF/R.5/27 February 16, 2010 ILLUSTRATIVE SCENARIOS FOR GEF-5 CONTRIBUTIONS (PREPARED BY THE WORLD BANK AS TRUSTEE)
More informationGlobal Environment Facility
Global Environment Facility GEF Council November 17-19, 2004 GEF/C.24/Inf.3 October 20, 2004 TRUSTEE REPORT (Prepared by Trustee) World Bank I. Introduction Trustee of The Global Environment Facility (GEF)Trust
More informationOverview of Financial Intermediary Funds
CHAPTER 4 Overview of Financial Intermediary Funds 4.1 Introduction 157 4.2 Examples of Financial Intermediary Funds 157 4.3 The World Bank s Role in Financial Intermediary Funds 160 4.4 Characteristics
More informationMENA Transition Fund
Financial Report Prepared by the Trustee As of December 31, 2016 1 Table of Contents Table of Contents Introduction... 3 Financial Summary as of December 31, 2016... 4 1. Summary Inception through December
More informationGEF-6 REPLENISHMENT: FINANCING FRAMEWORK (PREPARED BY THE TRUSTEE)
Fourth Meeting for the Sixth Replenishment of the GEF Trust Fund April 16-17, 2014 Geneva, Switzerland GEF/R.6/Inf.11 March 28, 2014 GEF-6 REPLENISHMENT: FINANCING FRAMEWORK (PREPARED BY THE TRUSTEE) TABLE
More informationHaiti Reconstruction Fund
Haiti Reconstruction Fund Financial Report Prepared by the Trustee As of June 30, 2013 Table of Contents Table of Contents Introduction... 3 Financial Summary as of June 30, 2013... 4 1. Summary Inception
More informationOverview of Financial Structure
GEF-7 Replenishment: Financial Structure Seventh Replenishment of the GEF Trust Fund January 23-25, 2018 Prepared by the GEF Trustee Overview of Financial Structure Overview 1. Key Components of GEF-7
More informationCTF-SCF/TFC.11/6 October 16, Joint Meeting of the CTF and SCF Trust Fund Committees Washington D.C. October 29, 2013.
Joint Meeting of the CTF and SCF Trust Fund Committees Washington D.C. October 29, 2013 CTF-SCF/TFC.11/6 October 16, 2013 Agenda Item 7 UPDATE OF THE CIF ERM FRAMEWORK: DEVELOPMENT OF A PORTFOLIO RISK
More informationGEF-7 Replenishment: Overview of Financial Structure
Seventh Replenishment of the GEF Trust Fund Second Meeting: October 3-5, 2017 Prepared by the GEF Trustee GEF-7 Replenishment: Overview of Financial Structure Overview 1. Key Components of GEF-7 Financial
More informationCIF FINANCIAL, RISK, PORTFOLIO AND OPERATIONAL REPORTING FRAMEWORK
Joint Meeting of the CTF and SCF Trust Fund Committee Washington D.C. Friday, December 15, 2017 Joint CTF-SCF.18/5 December 6, 2017 Agenda Item 5 CIF FINANCIAL, RISK, PORTFOLIO AND OPERATIONAL REPORTING
More informationINTERNATIONAL DEVELOPMENT ASSOCIATION BOARD OF GOVERNORS. Resolution No. 211
Public Disclosure Authorized INTERNATIONAL DEVELOPMENT ASSOCIATION BOARD OF GOVERNORS Resolution No. 211 Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized WHEREAS:
More informationGlobal Environment Facility. (Prepared by the Trustee)
Global Environment Facility GEF Council Meeting April 22-25, 2008 GEF/C.33/Inf.3 March 25, 2008 TRUSTEE REPORT (Prepared by the Trustee) World Bank Trustee of The Global Environment Facility (GEF)Trust
More informationCTF SEMI-ANNUAL OPERATIONAL REPORT
Meeting of the CTF Trust Fund Committee Washington, DC Wednesday, June 6, 2018 CTF/TFC.21/3 May 14, 2018 Agenda 3 CTF SEMI-ANNUAL OPERATIONAL REPORT PROPOSED DECISION The CTF Trust Fund Committee reviewed
More informationInformation on the status of the resources of the Adaptation Fund
United Nations FCCC/SBI/2013/INF.2 Distr.: General 23 April 2013 English only Subsidiary Body for Implementation Thirty-eighth session Bonn, 3 14 June 2013 Item 11(a) of the provisional agenda Matters
More informationThe Global Fund to Fight AIDS, Tuberculosis and Malaria Fourth Replenishment ( ) Outcome of the Global Fund s Third Replenishment
The Global Fund to Fight AIDS, Tuberculosis and Malaria Fourth Replenishment (2014-2016) Outcome of the Global Fund s Third Replenishment April 2013 Million US Dollars Introduction 1. This technical note
More informationFund Council. July 6-8, Trustee Report. (Working Document - For Discussion Only) Document presented for Agenda Item 1: Opening Session
Fund Council 5 th Meeting (FC5) Washington, DC July 6-8, 2011 Trustee Report (Working Document - For Discussion Only) Document presented for Agenda Item 1: Opening Session Submitted by: Trustee CGIAR Trust
More informationIDA15 MULTILATERAL DEBT RELIEF INITIATIVE (MDRI): UPDATE ON DEBT RELIEF BY IDA AND DONOR FINANCING TO DATE
IDA15 MULTILATERAL DEBT RELIEF INITIATIVE (MDRI): UPDATE ON DEBT RELIEF BY IDA AND DONOR FINANCING TO DATE Resource Mobilization (FRM) February 2007 Selected Abbreviations and Acronyms AfDF FRM FY HIPC
More informationCTF/TFC/12/9 October 12, Meeting of the CTF Committee Washington D.C. October 28, Agenda Item 10
Meeting of the CTF Committee Washington D.C. October 28, 2013 CTF/TFC/12/9 October 12, 2013 Agenda Item 10 USE OF LOCAL CURRENCY FOR PRIVATE SECTOR PROJECTS UNDER THE CTF TRUST FUND: PROPOSED TOOLS AND
More informationSEVENTH GEF REPLENISHMENT: OVERVIEW OF FINANCIAL STRUCTURE (PREPARED BY THE TRUSTEE)
First Meeting for the Seventh Replenishment of the GEF Trust Fund March 28-30, 2017 Paris, France GEF/R.7/04/Rev.01 March 7, 2017 SEVENTH GEF REPLENISHMENT: OVERVIEW OF FINANCIAL STRUCTURE (PREPARED BY
More informationIntroduction of CIF FY13 Business Plan and Budget
Introduction of CIF FY13 Business Plan and Budget CTF AND SCF JOINT COMMITTEES MEETING May 1-2, 2012 Overview Progress in committing CIF resources Challenges going forward Summary of proposed FY13 budget
More informationIDA13. Further Options for IDA13 Grant Financing
IDA13 Further Options for IDA13 Grant Financing International Development Association January 2004 1. During the IDA13 Mid-Term Review discussions on November 4-5, 2003, Deputies considered several approaches
More informationCIF FY18 Business Plan and Budget Mafalda Duarte
CIF FY18 Business Plan and Budget Mafalda Duarte June 7, 2017 Overview 1. CIF Portfolio trends 2. Looking back achievements of FY17 3. Looking forward action priorities for FY18 4. Summary of proposed
More informationTRANSMITTAL OF OFFICIAL DOCUMENTS
TRANSMITTAL OF OFFICIAL DOCUMENTS TO: Official Documents Desk, MSN MC6-340 DATE: March 29, 2010 FROM: Junko Funahashi, Senior Counsel, LEGCF - EXTENSION: 82358 SUBJECT: Financial Procedures Agreement between
More informationClean Technology Fund (CTF) Proposal for CTF 2.0
Clean Technology Fund (CTF) Proposal for CTF 2.0 Outline Clean Technology Fund: 2008 to 2016 The Journey so far Changing climate in a changing world SDGs, Paris Agreement Unique opportunity Use of assets
More informationFINANCIAL PROCEDURES AGREEMENT. between INTERNATIONAL FINANCE CORPORATION. and THE INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT,
CONFORMED COPY FINANCIAL PROCEDURES AGREEMENT between INTERNATIONAL FINANCE CORPORATION and THE INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT, as Trustee of THE TRUST FUND FOR THE STRATEGIC CLIMATE
More informationSKAGEN Tellus Statusrapport april 2017
SKAGEN Tellus Statusrapport april 2017 Key numbers as of 30 April 2017 (SEK, net of fees) April QTD YTD 1 years 3 years 5 years Since inception* SKAGEN Tellus 0,03% 0,03% 0,24% 9,31% 6,62% 6,06% 5,55%
More informationPIMCO Global Advantage Government Bond Index. Index Specification
PIMCO Global Advantage Government Bond Index January 2011 Contents 1 Index Overview... 3 2 Country Classification and Eligibility Rules... 5 2.1 Regional Classification... 5 2.2 Instrument Categories...
More informationINTRODUCING CIF FY16 Business Plan and Budget. CTF AND SCF JOINT COMMITTEES MEETING May 11, 2015
INTRODUCING CIF FY16 Business Plan and Budget CTF AND SCF JOINT COMMITTEES MEETING May 11, 2015 Overview Background Priority areas of action going forward Summary of proposed FY16 budget Update on administrative
More informationStatus of the Initial Resource Mobilization process
Meeting of the Board 5-6 July 2017 Songdo, Incheon, Republic of Korea Provisional agenda item 20 GCF/B.17/Inf.04 22 June 2017 Status of the Initial Resource Mobilization process Summary This document provides
More informationIndependent Auditor s Report 3. Statement of Financial Position 5. Statement of Comprehensive Income 6. Statement of Changes in Funds 7
GREEN CLIMATE FUND CONTENTS Page No. Independent Auditor s Report 3 Statement of Financial Position 5 Statement of Comprehensive Income 6 Statement of Changes in Funds 7 Statement of Cash Flows 8 Notes
More informationClean Technology Fund (CTF) Proposal for CTF 2.0
Clean Technology Fund (CTF) Proposal for CTF 2.0 Outline Clean Technology Fund: 2008 to 2016 The Journey so far Changing climate in a changing world SDGs, Paris Agreement Unique opportunity Use of assets
More informationThe Luxembourg Fund industry Facts and Figures. 7 October, 2009
The Luxembourg Fund industry Facts and Figures 7 October, 2009 AGENDA 1. Worldwide Fund industry 2. European landscape 3. Luxembourg market 4. Luxembourg : hub for cross border distribution Agenda 1. Worldwide
More informationGOVERNANCE FRAMEWORK FOR
December, 2011 GOVERNANCE FRAMEWORK FOR THE STRATEGIC CLIMATE FUND Adopted November 2008 and amended December 2011 Table of Contents A. Introduction B. Purpose and Objectives C. SCF Programs D. Governance
More informationI. Introduction. Objective and scope. Figure 3: RMF components. by the Investment Risk policy. Funding risk policy Page 1
This document is as adopted by the Board in decision B.19/04. It was sent to the Board for consideration at B.19 in document GCF/B.19/19 titled Risk management framework: Proposal by the Risk Management
More informationSKAGEN Tellus Statusrapport maj 2017
SKAGEN Tellus Statusrapport maj 2017 Key numbers as of 31 May 2017 SEK, net of fees May QTD YTD 1 years 3 years 5 years Since inception* SKAGEN Tellus 0,37 % -1,9% 0,61 % 7,46 % 5,66 % 5,71 % 5,54 % JPM
More informationFinancial Trends of World Bank Group Trust Funds,
CHAPTER 2 Financial Trends of World Bank Group Trust Funds, FY13 FY17 2.1 Overview of World Bank Group Trust Funds 113 2.2 IBRD/IDA Trust Funds 122 2.3 IFC Trust Funds 135 2.4 MIGA Trust Funds 140 2.5
More information10 th Meeting of the Consultative group
10 th Meeting of the Consultative group May 9 th, 2011 Geneva, Switzerland GFDRR Resource Management & Mobilization By: Saroj Kumar Jha, GFDRR Manager GFDRR is able to help developing countries reduce
More informationClimate Funds AfDB Mobilizing Concessional Finance for NDC Implementation
Climate Funds AfDB Mobilizing Concessional Finance for NDC Implementation Davinah Milenge Uwella Senior Climate Change Officer Climate Change and Green Growth Department Presentation Outline Preamble Climate
More informationForest Carbon Partnership Facility 6. Carbon Fund Budget for FY13
Forest Carbon Partnership Facility 6. Carbon Fund Budget for FY13 Fourth Meeting of the Carbon Fund (CF4) Santa Marta, Colombia, June 24-25, 2012 1 Outline of Today s Discussion I. The Budget Process of
More informationForest Carbon Partnership Facility 7c. FY12 Annual Budget of the Readiness Fund
Forest Carbon Partnership Facility 7c. FY12 Annual Budget of the Readiness Fund Participants Committee Meeting (FCPF PC9) Oslo, Norway, June 20-June 22, 2011 1 Outline of Today s Discussion I. The Budget
More informationCLIMATE INVESTMENT FUNDS
CLIMATE INVESTMENT FUNDS CTF/TFC.1/4 November 03, 2008 First Meeting of the CTF Trust Fund Committee Washington, D.C. November 17-18, 2008 CLEAN TECHNOLOGY FUND FINANCING PRODUCTS, TERMS, AND REVIEW PROCEDURES
More informationINFLATION-ADJUSTED BOND PORTFOLIO
QUARTERLY REPORT March 31, 2017 MFS INFLATION-ADJUSTED BOND PORTFOLIO MFS Variable Insurance Trust III PORTFOLIO OF INVESTMENTS 3/31/17 (unaudited) The Portfolio of Investments is a complete list of all
More informationWhere Next for Carbon Markets? Carbon and Climate finance. Alexandre Kossoy The World Bank
Where Next for Carbon Markets? Carbon and Climate finance Alexandre Kossoy The World Bank AIR TRANSPORT AT THE WORLD BANK Evolution of the World Bank s Air Transport Portfolio USD Mio $1,600 $1,400 $1,200
More informationSKAGEN Tellus Status Report February 2017
SKAGEN Tellus Status Report February 2017 Key numbers as of 28 February 2017 EUR, net of fees February QTD 2016 1 years 3 years 5 years Since inception* SKAGEN Tellus 1,6% 0,7% 5,7% 5,5% 5,9% 4,7% 5,4%
More informationEffective for transactions prior to 30 May 2011 Commission rates
Effective for transactions prior to 30 May 2011 Commission rates Commission for share CFDs for New Zealand residents Country of share CFD Rate Minimum Australia 0.10% AUD $7 Canada 2 cents per share CFD
More informationCTF-SCF/TFC.7/7 October 20, Joint Meeting of the CTF and SCF Trust Fund Committees Washington, D.C. November 3, 2011.
CTF-SCF/TFC.7/7 October 20, 2011 Joint Meeting of the CTF and SCF Trust Fund Committees Washington, D.C. November 3, 2011 Agenda Item 7 PROPOSAL FOR LAUNCH OF INDEPENDENT EVALUATION OF THE CLEAN TECHNOLOGY
More informationGlobal Environment Facility
Global Environment Facility GEF Council May 14-16, 2003 GEF/C.21/Inf.3 May 1, 2003 TRUSTEE REPORT ON THE FINANCIAL STATUS AND MANAGEMENT OF THE GEF TRUST FUND I. INTRODUCTION 1. This report provides an
More informationHarmonised Transparency Template
Harmonised Transparency Template SWEDEN Swedbank Mortgage AB Reporting Date: [30/06/17] Cut-off Date: [30/06/17] Index Worksheet A: HTT General Worksheet B1: HTT Mortgage Assets Worksheet B2: HTT Public
More informationHarmonised Transparency Template
Harmonised Transparency Template SWEDEN Swedbank Mortgage AB Reporting Date: [30/09/18] Cut-off Date: [30/09/18] Index Worksheet A: HTT General Worksheet B1: HTT Mortgage Assets Worksheet B2: HTT Public
More informationOPTIMTRADER COMMISSIONS
OPTIMTRADER COMMISSIONS Package BASIC OPTIMUM PREMIUM MINIMUM DEPOSIT 5.000 USD or another currency equivalent 10.000 USD another currency equivalent According to the MONTHLY TRADING VOLUME OptimTrader
More informationForest Carbon Partnership Facility (FCPF) Readiness Fund
Forest Carbon Partnership Facility (FCPF) Readiness Fund FY15 Budget Status and FY16 Proposed Budget for the FCPF Readiness Fund May 2015 This note is designed to (A) present the status of the FY15 budget
More informationForest Carbon Partnership Facility
Forest Carbon Partnership Facility Carbon Fund Long Term Financial Plan Second Meeting of the FCPF Carbon Fund (CF2) Berlin, Germany October 20-21, 2011 Background (1) Previously presented Carbon Fund
More informationTrust Fund Reform CHAPTER Keeping Trust Funds Fit for Purpose Summary of Past Phases Opportunities and Challenges 153
CHAPTER 3 Trust Fund Reform 3.1 Keeping Trust Funds Fit for Purpose 151 3.2 Summary of Past Phases 151 3.3 Opportunities and Challenges 153 3.4 The Way Forward 153 150 2017 Trust Fund Annual Report 3.1
More informationGlobal Environment Facility
Global Environment Facility GEF Council May 19-21, 2004 GEF/C.23/10/Rev.1 April 20, 2004 Agenda Item 13 STATUS REPORT ON THE LEAST DEVELOPED COUNTRIES TRUST FUND FOR CLIMATE CHANGE Recommended Council
More informationGCF/B.22/15/Rev February Summary
Meeting of the Board 26 28 February 2019 Songdo, Incheon, Republic of Korea Provisional agenda item 23 20 February 2019 Review of the amounts to be set aside for the operating costs of the Green Climate
More informationGOVERNANCE FRAMEWORK FOR THE CLEAN TECHNOLOGY FUND. November, 2008
GOVERNANCE FRAMEWORK FOR THE CLEAN TECHNOLOGY FUND November, 2008 Table of Contents A. Introduction B. Purpose and Objectives C. Types of Investment D. Financing under the CTF E. Country Access to the
More informationGOVERNANCE FRAMEWORK FOR THE CLEAN TECHNOLOGY FUND
June 2014 GOVERNANCE FRAMEWORK FOR THE CLEAN TECHNOLOGY FUND Adopted November 2008 and amended June 2014 Table of Contents A. Introduction B. Purpose and Objectives C. Types of Investment D. Financing
More informationNEUBERGER BERMAN INVESTMENT FUNDS PLC
The Directors of the Company whose names appear in the Management and Administration section of the Prospectus accept responsibility for the information contained in this document. To the best of the knowledge
More informationARTF Administrator s Report on Financial Status as of January 19, 2009 (end of Jadi 10 th month of SY1387)
ARTF Administrator s Report on Financial Status as of January 19, 2009 (end of Jadi 10 th month of ) 1. Donor contributions for Total donor pledges for amount to US$689 million, of which US$349 million
More informationCTF SEMI-ANNUAL OPERATIONAL REPORT
Meeting of the CTF Trust Fund Committee Ouarzazate, Morocco Thursday, January 31, 2019 CTF/TFC.22/3 January 8, 2019 CTF SEMI-ANNUAL OPERATIONAL REPORT PROPOSED DECISION The Trust Fund Committee reviewed
More informationSummary of the Co-Chairs Meeting of the Clean Technology Fund Trust Fund Committee October 28-29, Co-Chairs
November 5, 2013 Summary of the Co-Chairs Meeting of the Clean Technology Fund Trust Fund Committee October 28-29, 2013 Co-Chairs Artur Cardoso de Lacerda, Brazil Kate Hughes, United Kingdom AGENDA ITEM
More informationThe Global Fund to Fight AIDS, Tuberculosis and Malaria Interim Financial Report INTERIM FINANCIAL REPORT. 30 June 2016
Interim Financial Report INTERIM FINANCIAL REPORT 30 June 2016 1 Interim Financial Report Contents 2016 Key operational activities... 3 FINANCIAL COMMENTARY... 4 1. Financial management framework:... 5
More informationSummary of the Co-Chairs Strategic Climate Fund Trust Fund Committee Meeting January 27, 2009
February 10, 2009 Summary of the Co-Chairs Strategic Climate Fund Trust Fund Committee Meeting January 27, 2009 Co-Chairs Sami Sofan, Yemen Katherine Sierra, World Bank Opening of Meeting 1. The meeting
More informationPERIODIC INFORMATION CONCERNING LIQUIDITY RISK IN ACCORDANCE WITH FFFS 2010:7
2016-09-30 2017-03-31 2017-09-30 2018-03-31 2018-09-30 2019-03-31 2019-09-30 2020-03-31 2020-09-30 2021-03-31 2021-09-30 2022-03-31 2022-09-30 2023-03-31 2023-09-30 2024-03-31 2024-09-30 2025-03-31 2025-09-30
More informationTransparency Template
Luxembourg NORD/LB Luxembourg S.A. Covered Bond Bank Reporting Date: 30/09/18 Cut-off Date: 30/09/18 Index 1. Basic Information 2. Public Sector Assets 3. Glossary 4. Optional ECB Repo Disclosure 5. Outstanding
More informationScenarios and estimates of CIF administrative costs for 5 years
Joint Meeting of the CTF and SCF Trust Fund Committee Washington D.C. Friday, December 15, 2017 Joint CTF-SCF/TFC.18/3 December 9, 2017 Scenarios and estimates of CIF administrative costs for 5 years Table
More information2018 SEMI-ANNUAL REPORT (UNAUDITED)
APRIL 30, 2018 2018 SEMI-ANNUAL REPORT (UNAUDITED) ishares Trust ishares 1-3 Year International Treasury Bond ETF ISHG NASDAQ ishares International Treasury Bond ETF IGOV NASDAQ Table of Contents Fund
More informationFINANCIAL PROCEDURES AGREEMENT EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT THE INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT,
FINANCIAL PROCEDURES AGREEMENT between EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT and THE INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT, as Trustee of THE TRUST FUND FOR THE STRATEGIC CLIMATE
More informationForeign Exchange Interventions and the Growth of FX Reserves: Diversification Potential?
Adam Smith Seminars: 2016 AND BEYOND: WORLD ECONOMIC PROSPECTS (III) Foreign Exchange Interventions and the Growth of FX Reserves: Diversification Potential? Lubomír Lízal, Ph.D. Budapest, November 9,
More informationThe Clean Technology Fund. U.S. Treasury Department. June 2008
The Clean Technology Fund U.S. Treasury Department June 2008 Clean Technology Fund Overview Why What Who How much How When 1 Why? By 2030, 80% of GHG emission growth is expected to come from non-oecd countries,
More informationFOREIGN EXCHANGE RESERVES
FOREIGN Management of Norges Bank s foreign exchange reserves 17 AUGUST 17 REPORT FOR SECOND QUARTER 17 Contents Management of the foreign exchange reserves... 3 Foreign exchange reserves... Fixed income
More informationCTF-SCF/TFC.4/Inf.2 March 13, Joint Meeting of the CTF and SCF Trust Fund Committees Manila, Philippines March 16, 2010
CTF-SCF/TFC.4/Inf.2 March 13, 2010 Joint Meeting of the CTF and SCF Trust Fund Committees Manila, Philippines March 16, 2010 BENCHMARKING CIF'S ADMINISTRATIVE COSTS 2 Background 1. The Joint Trust Fund
More informationDear Security Holder. 9 June 2017
Dear Holder Re: ETFS Foreign Exchange Limited (the Company ) Accounting period ended 31 December 2016 UK Information to Holders 9 June 2017 The of the Company set out below have been approved as s by HM
More information